- Otedola sells indirect control of Geregu Power
- Deal values stock at about $750mn
LAGOS, NIGERIA – Nigeria billionaire Femi Otedola has exited control of Geregu Power in a surprise transaction valued at about $750mn, triggering fresh debate over tax reforms and his next major investment move.
Geregu Power Plc said in a filing to the Nigerian Exchange on Monday that its majority shareholder, Amperion Power Distribution Company Limited, had sold 95% of its equity interest to MA’AM Energy Limited.
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